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Should you have more than one string to your bow? [Archive] - SOWPub Small Business Forums


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Dien Rice
March 29, 2014, 07:51 PM
I spent part of the day at the beach yesterday...

I didn't go into the water, but enjoyed walking along the boardwalk, taking in the sunshine, the fresh salty air, and seeing people bask in the glorious warm weather...

After going for a refreshing and invigorating walk, I parked myself at a table at one of the beach side cafes, surfed the web while watching the beautiful sunset, sipping my mochaccino (a kind of coffee, with chocolate in it as well)...

After spending a little bit of time reading the most interesting latest news, I started to ponder my multiple streams of income...

I feel I'm fortunate to have multiple streams of income. Not everyone thinks it's a good thing. But let me tell you about a man I met recently...

He's spent most of his life doing one thing, in one industry. The problem is, in this country, that industry has virtually disappeared. It's one of those industries where everything has moved overseas! His expertise now has very little local value. He's found other work, though he's probably had a big pay cut, and he's clearly not happy.

His situation is one where he had one string to his bow. He became a very narrow expert in something, which had a high value at one point in time, but because of how times have changed, the value of that expertise has plummeted.

On the other hand, to continue with the metaphor, I have several strings to my bow. I know that (as long as health is not an issue), I will never have trouble finding an income, one way or another. Furthermore, I'm gradually building up my income-producing toll position assets too.

It's a bit like someone who was an expert on typewriters. Once upon a time, that would have been a valuable expertise. However, if that was the only string to your bow... nowadays, you'd be in trouble!

Everything changes pace quickly now, and it's just getting quicker! If you can only do one thing, it may become obsolete! I'm a big believer of having more than one string to your bow... And it makes life a little more fun and exciting, too!


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